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Posted Fri, 08 Dec 2023 12:30:54 GMT by Dylan Chesters
If I have share holdings outside an ISA and I chose to sell £20,000 of those shares with a profit of £8,000, can I transfer the £20,000 proceeds into an ISA and re-purchase the same shares within 30 days and not pay CGT? I am unable to use the Bed an ISA facility due to the different platforms on which my shares and ISA are held. Would I need to pay Capital Gains Tax on the £8,000 profit and moreover do I need to declare the sale in a Self Assessment at all if the same shares are re-purchased within an ISA?
Posted Tue, 12 Dec 2023 15:55:51 GMT by HMRC Admin 5 Response
Hi

No.  The disposal is outside of the ISA, so can result in a capital gain arising from that disposal.  
If you later purchase the shares in the ISA, then their disposal would not attract capital gains if disposed of in the ISA.

Thank you

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